50 Cent Speaks On Shifts In Music Marketing, SMS Audio Venture
Fif sits down with WSJ's Lee Hawkins to discuss his various business ventures.
50 Cent has taken on entrepreneurial and philanthropic adventures over the years, as well as launching his own label G-Unit and more recently G-Note Records. Speaking with WSJ.com, Fif explained how music marketing has changed over the years and how digital downloading should be embraced by record companies.
"That factor, now that 70 percent of the actual music is being consumed online, [users] have the option to steal it online or buy it online. I don’t think you fix it. I think Sean Parker has a pretty good idea with Spotify, because he’s aware of the damage done through Napster. And then he went forward with a model that could actually continue to at least have major corporations and major record companies feel like they’re taking a legitimate risk on marketing artists," he said. "Because now, you’re meeting the new artist before the record company does. All you need is a camera and today, your telephone’s a camera. You film yourself in the studio, and it’s right on YouTube. If you can identify with talent and hear it early on, and start to develop a following online, then the record companies come. So we’re losing artist development."
The G-Unit leader also spoke his venture with SMS Audio and the launch of his headphones, stating that he won't just build up the company and then sell it if the product succeeds.
“This is something that I want to do in the long haul. I’ll be involved in this actual company. It’s something that will build up and then we’ll get rid of it. It’s exciting for me. Being part of this audio company is also a reflection of my passion for delivering music that sounds well.”
Watch the full interview below, where he also speaks on his Street King initiative and misconceptions about his character based on his music.